Northland Power Income Fund announced July 8 that it had started site clearing for a wind farm to be located in the Gaspésie region of Quebec near Mont Louis, about 150 km east of Matane.
The 100.5 MW Mont Louis project was awarded a contract in 2004 to supply power to Hydro-Québec under a 20 year Power Purchase Agreement. GE Canada is expected to supply 67 GE 1.5sle wind turbines for the project.
The total cost of the project is expected to be $176 million, or $146 million net after reimbursement of substation and interconnection costs by Hydro-Québec. Northland anticipates raising approximately $120 million of debt financing for the project, with financial close expected in September 2010.